Deck 15: Work, Consumption, and the Economy

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Question
In 1810, what percentage of the U.S.workforce worked in agriculture?

A)84%
B)60%
C)48%
D)17%
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Question
Which of the following are economically productive activities that do not result directly in physical products?

A)goods
B)services
C)interests
D)stocks
Question
Which of the following is the social institution that organizes the way society produces, distributes, and consumes goods and services?

A)the stock market
B)the economy
C)the government
D)the military-industrial complex
Question
Which of following is true of mass production?

A)Mass production reduces efficiency but improves safety conditions.
B)Each individual worker is responsible for putting entire products together from start to finish.
C)Mass production results in the development of large numbers of identical components and products.
D)Mass production increases cost.
Question
Who introduced modern mass production and the use of assembly lines in the early 1900s?

A)Henry Ford
B)Frederick Taylor
C)Karl Marx
D)George Ritzer
Question
Which of the following developed alongside the rise of industrial capitalist society?

A)automation
B)the production of agricultural surpluses
C)cottage industries
D)new economic classes
Question
The Industrial Revolution began in which country?

A)United States
B)Germany
C)France
D)England
Question
Which of the following is an example of a means of production?

A)factories
B)the bourgeoisie
C)scientific management
D)mass production
Question
Marx and Engels believed that the exploitation of wage labor by capitalists would ______.

A)cause profits to plummet
B)increase job security for the proletariat
C)improve conditions and opportunities for the proletariat
D)end in revolution and the end of private ownership of the means of production
Question
Which of the following sociologists first described the concept of a reserve army of labor?

A)Auguste Comte
B)Karl Marx
C)Max Weber
D)Pierre Bourdieu
Question
Which of the following is considered a good?

A)productive industries
B)mass production
C)an automobile
D)Fordism
Question
"Taylorism" is another term for which of the following?

A)reserve army of labor
B)industrial capitalism
C)scientific management
D)social stratification
Question
Shoe shinning, working a cash register, and repairing a car are examples of which of the following?

A)goods
B)services
C)economies
D)industries
Question
Which of the following is true of the agricultural revolution?

A)It decreased human productivity over that of earlier hunting, gathering, and pastoral societies.
B)It was spurred by the development of innovations such as mass production and scientific management.
C)The majority of people in agricultural societies produced surplus crops.
D)The economic role of merchants emerged.
Question
What led Karl Marx and Friedrich to posit that the two classes--the bourgeoisie and the proletariat--to come into conflict?

A)the modern division of labor
B)the poor conditions of 19th-century English factories
C)the efficiency of mass production
D)the publication of Winslow Taylor's Principles of Scientific Management
Question
Who wrote the Manifesto of the Communist Party?

A)Henry Ford
B)Max Weber
C)Frederick Winslow Taylor
D)Karl Marx and Friedrich Engels
Question
Ciara has been offered an entry-level position in marketing.She tries to negotiate her salary, but is in a weak bargaining position due to the large number of qualified applications.Her situation reflects which of the following concepts?

A)mass production
B)industrialization
C)scientific management
D)reserve army of labor
Question
A craftsman who makes baskets at home engages in a(n) ______ industry.

A)subsistence
B)machine
C)agricultural
D)cottage
Question
By 1960, what percentage of the U.S.workers labored in agriculture?

A)1%
B)8%
C)27%
D)49%
Question
Which of the following was a consequence of scientific management?

A)Workers were de-skilled and more vulnerable to layoffs.
B)Productivity decreased.
C)Factory managers lost control of the production process.
D)Workers became more difficult to replace.
Question
Which of the following terms refers to the practice among U.S.companies of contracting with businesses outside the country to perform services that would otherwise be done by U.S.workers?

A)globalization
B)flexible production
C)outsourcing
D)offshoring
Question
Microsoft's use of "permatemps" is an example of ______.

A)automation
B)outsourcing
C)offshoring
D)"just-in-time" delivery systems
Question
Which of the following describes post-Fordism?

A)reliance on more flexible, less standardized forms of production
B)reliance on outsourcing and offshoring
C)reliance on contracted work
D)reliance on symbolic analysts
Question
The replacement of human labor with machines is called which of the following?

A)mass production
B)automation
C)flexible production
D)offshoring
Question
Which of the following companies is most likely to be "headcount-efficient?"

A)General Motors
B)Chrysler
C)U.S.Steel
D)Snapchat
Question
The passage of the Wagner Act in 1935 prompted an increase in ______.

A)manufacturing
B)privatization
C)unionization
D)automation
Question
Which of the following is not characteristic of postindustrial economies?

A)increasing numbers of low-wage, part-time jobs
B)a decreased emphasis on education
C)an increased reliance on outsourcing and offshoring
D)the growth of automation and flexible production
Question
Arlie Russell Hochschild used the term ______ to describe the commodification of emotions.

A)emotional labor
B)the future of work
C)the service industry
D)the technological revolution
Question
Which of the following is an example of automation?

A)the manufacturing of identical commodities on a mechanical assembly line
B)the movement of manufacturing jobs overseas
C)contracting U.S.workers to do a job for less pay than a company employee would earn
D)robots performing tedious and dangerous work
Question
The invention of the ______ spurred the information revolution.

A)cell phone
B)microchip
C)Internet
D)personal computer
Question
Of the following, who would be considered a symbolic analyst?

A)an artist who paints abstract landscapes
B)an industrial worker who assembles automobiles
C)a flight attendant with highly developed people skills
D)an engineer who develops medical technologies
Question
A recent article on robot surgeons highlighted which of the following?

A)Robots are generally ineffective at complex analytical and technological tasks.
B)Robots are better at many tasks than humans.
C)Robots are generally not trusted by patients.
D)Robots reduce headcount efficiency.
Question
Where has job growth been concentrated in the modern U.S.economy?

A)agriculture
B)manufacturing
C)the government
D)the service sector
Question
Which of the following is true of the service sector?

A)Most positions require extensive education or training.
B)A growing fraction of positions are part-time rather than full-time.
C)A growing fraction of positions are unionized.
D)Quite a few of these jobs are often viewed as "men's jobs."
Question
Which of the following is true of the industrial laborer today?

A)The industrial laborer is more likely to belong to a union.
B)The industrial laborer is more likely to have appreciable job security.
C)The industrial laborer is more likely to have experienced a decline in wages and benefits.
D)The industrial laborer is more likely to be a member of the middle class.
Question
What step did Henry Ford take to improve opportunities for workers on his Model T assembly line?

A)He paid his workers $5 a day.
B)He offered workers a pension.
C)He offered maternity and paternity leave.
D)He offered continuing education classes.
Question
Which term often describes low-cost foreign labor?

A)outsourcing
B)post-Fordism
C)globalization
D)knowledge workers
Question
Which of the following is considered a service sector position?

A)computer scientist
B)cell phone sales rep
C)automobile factory worker
D)farmer
Question
Which of the following best represents a sociological understanding of economic systems?

A)Nearly all countries display a mix of economic systems, not purely capitalist, socialist, or communist.
B)The majority of societies have a communist economic system.
C)The United States and other similarly developed countries have a purely capitalist economic system.
D)Socialism relies more heavily on a service economy.
Question
According to Arlie Hochschild, which of the following is true of emotional laborers?

A)They are not allowed to suppress negative feelings, particularly when poor behavior on the part of a customer evokes frustration.
B)Their physical strength is the most important part of their work.
C)Their labor has no exchange value.
D)They are alienated from their emotional lives.
Question
Which of the following is true of communism?

A)It eliminates economic inequality in its ideal-typical form.
B)It is a transitional form of economic organization between capitalism and socialism.
C)Its primary motive is profit.
D)It emphasizes private ownership of the means of production.
Question
Which of the following is true of the 1970s?

A)The real value of workers' pay rose dramatically.
B)Consumption continued to decline.
C)Consumption continued to rise, driven by gains income.
D)Consumption continued to rise, driven by the growing credit card markets.
Question
Which of the following would not typically be managed by the government under a socialist system?

A)religious institutions
B)hospitals
C)housing
D)meat factories
Question
Which of the following is characteristic of socialism?

A)minimizing the government's role in economic decision-making
B)efforts to keep wages low
C)unregulated markets
D)elimination of extreme poverty
Question
Before the collapse of the Soviet Union and its socialist allies in Eastern Europe, nearly one third of the world's population lived in ______ countries.

A)industrialist
B)communist
C)capitalist
D)socialist
Question
Which of the following is true of work?

A)It excludes paid labor in the factory or office.
B)It excludes unpaid labor at home.
C)It includes volunteer work in the community.
D)It includes hobbies pursued purely for personal pleasure.
Question
Which of the following is true of the formal economy?

A)It is not regulated by government institutions.
B)It excludes self-employment.
C)It is what people ordinarily have in mind when they refer to work.
D)It has decreased in significance since the Industrial Revolution.
Question
Which of the following is an example of market patriotism?

A)a manufacturing company profiting off a military contract
B)citizen-consumers spending money to stimulate the economy after a disaster
C)individuals saving money to invest in educational credentials
D)a government asking its citizens to join the military during war
Question
Which of the following would not be considered an activity in the informal or underground economy?

A)gambling in Las Vegas
B)holding a summer yard sale
C)selling pirated movies on eBay
D)selling homemade alcohol to friends
Question
Which of the following is true of capitalist systems?

A)They emphasize highly regulated markets.
B)They emphasize private economic decision-making about the goods and services that should be produced.
C)Governments play a minor role in shaping economic life.
D)They reject mass production.
Question
Robert Reich posited that the consumption-driven economy originated in a ______ between workers and employers.

A)basic bargain
B)stalemate
C)reference group
D)means of production
Question
Which of the following is an example of a public-sector job?

A)engineer at Snapchat
B)flight attendant at American Airlines
C)attorney at the State Department
D)janitor at Walmart
Question
Which of the following is true of the underground or informal economy?

A)Few of us ever participate in it.
B)All income-generating activities in the informal economy are illegal.
C)It's larger in advanced countries than in developing economies.
D)Disproportionate numbers of low-income, female, and immigrant people work in it.
Question
An economic system in which, theoretically, the government manages the economy in the interests of the workers is referred to as ______.

A)communism
B)federalism
C)socialism
D)capitalism
Question
What is the largest remaining socialist country in the world today?

A)India
B)Russia
C)South Africa
D)China
Question
Which of the following is an example of a private-sector job?

A)accountant at General Electric
B)cop at the Chicago Police Department
C)teacher at the Boston Public School system
D)postal worker at the U.S.Postal Service
Question
Which type of society is most likely to feature a barter economy?

A)hunting and gathering
B)agricultural
C)industrial
D)postindustrial
Question
Which of the following would not be considered work?

A)playing a guitar in your backyard
B)feeding and diapering one's baby
C)volunteering at a nursing home
D)writing campaign letters at your unpaid internship
Question
Juliet Schor argued that consumption patterns in the United States are heavily driven on American's reliance on ______.

A)the government
B)market patriotism
C)reference groups
D)social media
Question
Which of the following is true of George Ritzer's concept of the means of consumption?

A)It rejects Marx's concept.
B)It distinguishes between the end product and the means of production that allows us to obtain the good.
C)It asserts that consumption is devoid of spontaneity, spirituality, or surprise.
D)It is a modern instrument of control not of the consumer, but of the worker.
Question
Although work in the manufacturing sector has declined, it still makes up about a third of the total labor market in the United States.
Question
Which of the following is an example of the race to the bottom?

A)a garment company moving its manufacturing operations to Bangladesh
B)a garment company cutting costs by sourcing cheaper fabrics
C)a garment company lowering wages in response to increased job applications
D)a garment company advertising online instead of in print
Question
Companies engaged with digital networking are the most financially valuable firms in the global economy.
Question
The term Fordism is sometimes used to describe scientific management.
Question
Which of the following is true of the global market for labor?

A)Corporate executive salaries have increased.
B)The global wage is higher than U.S.workers are accustomed to receiving for virtually any job.
C)It does not include professional and technical occupations.
D)Companies are becoming less likely to relocate jobs in search of lower labor costs.
Question
Which of the following is characteristic of shallow economic integration?

A)Corporations are multinational rather than just national.
B)Raw materials may be sourced in one country and shipped to another for production.
C)Most countries do business with other countries.
D)A single product is made in a single country.
Question
Unionization slowed down after the Great Depression.
Question
Which of the following is true of corporate executive salaries?

A)Globalization has had some negative effects on earnings for corporate executives.
B)Corporate executive salaries have skyrocketed.
C)Median CEO pay increased slightly during the recession.
D)Median CEO pay has declined somewhat in the postcrisis period.
Question
The most well-known and visible companies today have the largest number of workers.
Question
Which of the following is the true of the new economic order?

A)The U.S.economic order today has been powerfully affected by the emergence of a stratified economic system.
B)The United States is an isolated economic unit.
C)In many respects, the world is a single economic unit.
D)Economic integration is becoming more shallow.
Question
During the Industrial Revolution, factories were replaced by cottage industries.
Question
Which of the following is characteristic of deep economic integration?

A)It is typical of the globalization of several decades ago.
B)Countries are less interdependent.
C)All of the manufacturing of a product is done in one country.
D)Management and sales might be located in different countries.
Question
Being a nurse or a flight attendant requires a high degree of emotional labor.
Question
In 2017, the average CEO pay was ______ times the annual average pay of their workers.

A)10
B)27
C)127
D)271
Question
What is the global wage?

A)the global average wage
B)the global minimum wage established by the United Nations
C)the wage equivalent to the lowest worldwide cost of obtaining labor for a particular task
D)the wage equivalent to the average worldwide cost of obtaining labor for a particular task
Question
Which of the following refers to when companies seek to maximize profits by chasing opportunities to locate wherever conditions are most likely to result in the lowest costs?

A)race to the bottom
B)globalization
C)deep integration
D)short integration
Question
Laissez-faire capitalism literally means hands-off capitalism.
Question
Nike, Apple, and Ford are all brands with globalized labor force.They reflect which of the following?

A)deep integration
B)shallow integration
C)an isolated economic society
D)cottage industries
Question
Which of the following is true of the early 21st century?

A)Consumption was the direct cause of bankruptcies.
B)Financial reforms in 2015 made the declaration of bankruptcy much easier and more common.
C)The financial crisis in 2017 saw another rise of bankruptcies.
D)Car debt increasingly became a burden.
Question
Shallow integration is more characteristic of which of the following time periods?

A)the agricultural revolution
B)the industrial revolution
C)the globalization of several decades ago
D)the globalization of today
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Deck 15: Work, Consumption, and the Economy
1
In 1810, what percentage of the U.S.workforce worked in agriculture?

A)84%
B)60%
C)48%
D)17%
A
2
Which of the following are economically productive activities that do not result directly in physical products?

A)goods
B)services
C)interests
D)stocks
B
3
Which of the following is the social institution that organizes the way society produces, distributes, and consumes goods and services?

A)the stock market
B)the economy
C)the government
D)the military-industrial complex
B
4
Which of following is true of mass production?

A)Mass production reduces efficiency but improves safety conditions.
B)Each individual worker is responsible for putting entire products together from start to finish.
C)Mass production results in the development of large numbers of identical components and products.
D)Mass production increases cost.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
5
Who introduced modern mass production and the use of assembly lines in the early 1900s?

A)Henry Ford
B)Frederick Taylor
C)Karl Marx
D)George Ritzer
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
6
Which of the following developed alongside the rise of industrial capitalist society?

A)automation
B)the production of agricultural surpluses
C)cottage industries
D)new economic classes
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
7
The Industrial Revolution began in which country?

A)United States
B)Germany
C)France
D)England
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
8
Which of the following is an example of a means of production?

A)factories
B)the bourgeoisie
C)scientific management
D)mass production
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Unlock Deck
k this deck
9
Marx and Engels believed that the exploitation of wage labor by capitalists would ______.

A)cause profits to plummet
B)increase job security for the proletariat
C)improve conditions and opportunities for the proletariat
D)end in revolution and the end of private ownership of the means of production
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
10
Which of the following sociologists first described the concept of a reserve army of labor?

A)Auguste Comte
B)Karl Marx
C)Max Weber
D)Pierre Bourdieu
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
11
Which of the following is considered a good?

A)productive industries
B)mass production
C)an automobile
D)Fordism
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Unlock Deck
k this deck
12
"Taylorism" is another term for which of the following?

A)reserve army of labor
B)industrial capitalism
C)scientific management
D)social stratification
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Unlock Deck
k this deck
13
Shoe shinning, working a cash register, and repairing a car are examples of which of the following?

A)goods
B)services
C)economies
D)industries
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Unlock Deck
k this deck
14
Which of the following is true of the agricultural revolution?

A)It decreased human productivity over that of earlier hunting, gathering, and pastoral societies.
B)It was spurred by the development of innovations such as mass production and scientific management.
C)The majority of people in agricultural societies produced surplus crops.
D)The economic role of merchants emerged.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
15
What led Karl Marx and Friedrich to posit that the two classes--the bourgeoisie and the proletariat--to come into conflict?

A)the modern division of labor
B)the poor conditions of 19th-century English factories
C)the efficiency of mass production
D)the publication of Winslow Taylor's Principles of Scientific Management
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
16
Who wrote the Manifesto of the Communist Party?

A)Henry Ford
B)Max Weber
C)Frederick Winslow Taylor
D)Karl Marx and Friedrich Engels
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k this deck
17
Ciara has been offered an entry-level position in marketing.She tries to negotiate her salary, but is in a weak bargaining position due to the large number of qualified applications.Her situation reflects which of the following concepts?

A)mass production
B)industrialization
C)scientific management
D)reserve army of labor
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Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
18
A craftsman who makes baskets at home engages in a(n) ______ industry.

A)subsistence
B)machine
C)agricultural
D)cottage
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
19
By 1960, what percentage of the U.S.workers labored in agriculture?

A)1%
B)8%
C)27%
D)49%
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
20
Which of the following was a consequence of scientific management?

A)Workers were de-skilled and more vulnerable to layoffs.
B)Productivity decreased.
C)Factory managers lost control of the production process.
D)Workers became more difficult to replace.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
21
Which of the following terms refers to the practice among U.S.companies of contracting with businesses outside the country to perform services that would otherwise be done by U.S.workers?

A)globalization
B)flexible production
C)outsourcing
D)offshoring
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
22
Microsoft's use of "permatemps" is an example of ______.

A)automation
B)outsourcing
C)offshoring
D)"just-in-time" delivery systems
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
23
Which of the following describes post-Fordism?

A)reliance on more flexible, less standardized forms of production
B)reliance on outsourcing and offshoring
C)reliance on contracted work
D)reliance on symbolic analysts
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
24
The replacement of human labor with machines is called which of the following?

A)mass production
B)automation
C)flexible production
D)offshoring
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
25
Which of the following companies is most likely to be "headcount-efficient?"

A)General Motors
B)Chrysler
C)U.S.Steel
D)Snapchat
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
26
The passage of the Wagner Act in 1935 prompted an increase in ______.

A)manufacturing
B)privatization
C)unionization
D)automation
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
27
Which of the following is not characteristic of postindustrial economies?

A)increasing numbers of low-wage, part-time jobs
B)a decreased emphasis on education
C)an increased reliance on outsourcing and offshoring
D)the growth of automation and flexible production
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
28
Arlie Russell Hochschild used the term ______ to describe the commodification of emotions.

A)emotional labor
B)the future of work
C)the service industry
D)the technological revolution
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
29
Which of the following is an example of automation?

A)the manufacturing of identical commodities on a mechanical assembly line
B)the movement of manufacturing jobs overseas
C)contracting U.S.workers to do a job for less pay than a company employee would earn
D)robots performing tedious and dangerous work
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
30
The invention of the ______ spurred the information revolution.

A)cell phone
B)microchip
C)Internet
D)personal computer
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
31
Of the following, who would be considered a symbolic analyst?

A)an artist who paints abstract landscapes
B)an industrial worker who assembles automobiles
C)a flight attendant with highly developed people skills
D)an engineer who develops medical technologies
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
32
A recent article on robot surgeons highlighted which of the following?

A)Robots are generally ineffective at complex analytical and technological tasks.
B)Robots are better at many tasks than humans.
C)Robots are generally not trusted by patients.
D)Robots reduce headcount efficiency.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
33
Where has job growth been concentrated in the modern U.S.economy?

A)agriculture
B)manufacturing
C)the government
D)the service sector
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
34
Which of the following is true of the service sector?

A)Most positions require extensive education or training.
B)A growing fraction of positions are part-time rather than full-time.
C)A growing fraction of positions are unionized.
D)Quite a few of these jobs are often viewed as "men's jobs."
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
35
Which of the following is true of the industrial laborer today?

A)The industrial laborer is more likely to belong to a union.
B)The industrial laborer is more likely to have appreciable job security.
C)The industrial laborer is more likely to have experienced a decline in wages and benefits.
D)The industrial laborer is more likely to be a member of the middle class.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
36
What step did Henry Ford take to improve opportunities for workers on his Model T assembly line?

A)He paid his workers $5 a day.
B)He offered workers a pension.
C)He offered maternity and paternity leave.
D)He offered continuing education classes.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
37
Which term often describes low-cost foreign labor?

A)outsourcing
B)post-Fordism
C)globalization
D)knowledge workers
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
38
Which of the following is considered a service sector position?

A)computer scientist
B)cell phone sales rep
C)automobile factory worker
D)farmer
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
39
Which of the following best represents a sociological understanding of economic systems?

A)Nearly all countries display a mix of economic systems, not purely capitalist, socialist, or communist.
B)The majority of societies have a communist economic system.
C)The United States and other similarly developed countries have a purely capitalist economic system.
D)Socialism relies more heavily on a service economy.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
40
According to Arlie Hochschild, which of the following is true of emotional laborers?

A)They are not allowed to suppress negative feelings, particularly when poor behavior on the part of a customer evokes frustration.
B)Their physical strength is the most important part of their work.
C)Their labor has no exchange value.
D)They are alienated from their emotional lives.
Unlock Deck
Unlock for access to all 102 flashcards in this deck.
Unlock Deck
k this deck
41
Which of the following is true of communism?

A)It eliminates economic inequality in its ideal-typical form.
B)It is a transitional form of economic organization between capitalism and socialism.
C)Its primary motive is profit.
D)It emphasizes private ownership of the means of production.
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42
Which of the following is true of the 1970s?

A)The real value of workers' pay rose dramatically.
B)Consumption continued to decline.
C)Consumption continued to rise, driven by gains income.
D)Consumption continued to rise, driven by the growing credit card markets.
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43
Which of the following would not typically be managed by the government under a socialist system?

A)religious institutions
B)hospitals
C)housing
D)meat factories
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44
Which of the following is characteristic of socialism?

A)minimizing the government's role in economic decision-making
B)efforts to keep wages low
C)unregulated markets
D)elimination of extreme poverty
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45
Before the collapse of the Soviet Union and its socialist allies in Eastern Europe, nearly one third of the world's population lived in ______ countries.

A)industrialist
B)communist
C)capitalist
D)socialist
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46
Which of the following is true of work?

A)It excludes paid labor in the factory or office.
B)It excludes unpaid labor at home.
C)It includes volunteer work in the community.
D)It includes hobbies pursued purely for personal pleasure.
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47
Which of the following is true of the formal economy?

A)It is not regulated by government institutions.
B)It excludes self-employment.
C)It is what people ordinarily have in mind when they refer to work.
D)It has decreased in significance since the Industrial Revolution.
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48
Which of the following is an example of market patriotism?

A)a manufacturing company profiting off a military contract
B)citizen-consumers spending money to stimulate the economy after a disaster
C)individuals saving money to invest in educational credentials
D)a government asking its citizens to join the military during war
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49
Which of the following would not be considered an activity in the informal or underground economy?

A)gambling in Las Vegas
B)holding a summer yard sale
C)selling pirated movies on eBay
D)selling homemade alcohol to friends
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50
Which of the following is true of capitalist systems?

A)They emphasize highly regulated markets.
B)They emphasize private economic decision-making about the goods and services that should be produced.
C)Governments play a minor role in shaping economic life.
D)They reject mass production.
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51
Robert Reich posited that the consumption-driven economy originated in a ______ between workers and employers.

A)basic bargain
B)stalemate
C)reference group
D)means of production
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52
Which of the following is an example of a public-sector job?

A)engineer at Snapchat
B)flight attendant at American Airlines
C)attorney at the State Department
D)janitor at Walmart
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53
Which of the following is true of the underground or informal economy?

A)Few of us ever participate in it.
B)All income-generating activities in the informal economy are illegal.
C)It's larger in advanced countries than in developing economies.
D)Disproportionate numbers of low-income, female, and immigrant people work in it.
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54
An economic system in which, theoretically, the government manages the economy in the interests of the workers is referred to as ______.

A)communism
B)federalism
C)socialism
D)capitalism
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55
What is the largest remaining socialist country in the world today?

A)India
B)Russia
C)South Africa
D)China
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56
Which of the following is an example of a private-sector job?

A)accountant at General Electric
B)cop at the Chicago Police Department
C)teacher at the Boston Public School system
D)postal worker at the U.S.Postal Service
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57
Which type of society is most likely to feature a barter economy?

A)hunting and gathering
B)agricultural
C)industrial
D)postindustrial
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58
Which of the following would not be considered work?

A)playing a guitar in your backyard
B)feeding and diapering one's baby
C)volunteering at a nursing home
D)writing campaign letters at your unpaid internship
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59
Juliet Schor argued that consumption patterns in the United States are heavily driven on American's reliance on ______.

A)the government
B)market patriotism
C)reference groups
D)social media
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60
Which of the following is true of George Ritzer's concept of the means of consumption?

A)It rejects Marx's concept.
B)It distinguishes between the end product and the means of production that allows us to obtain the good.
C)It asserts that consumption is devoid of spontaneity, spirituality, or surprise.
D)It is a modern instrument of control not of the consumer, but of the worker.
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61
Although work in the manufacturing sector has declined, it still makes up about a third of the total labor market in the United States.
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62
Which of the following is an example of the race to the bottom?

A)a garment company moving its manufacturing operations to Bangladesh
B)a garment company cutting costs by sourcing cheaper fabrics
C)a garment company lowering wages in response to increased job applications
D)a garment company advertising online instead of in print
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63
Companies engaged with digital networking are the most financially valuable firms in the global economy.
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64
The term Fordism is sometimes used to describe scientific management.
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65
Which of the following is true of the global market for labor?

A)Corporate executive salaries have increased.
B)The global wage is higher than U.S.workers are accustomed to receiving for virtually any job.
C)It does not include professional and technical occupations.
D)Companies are becoming less likely to relocate jobs in search of lower labor costs.
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Unlock for access to all 102 flashcards in this deck.
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66
Which of the following is characteristic of shallow economic integration?

A)Corporations are multinational rather than just national.
B)Raw materials may be sourced in one country and shipped to another for production.
C)Most countries do business with other countries.
D)A single product is made in a single country.
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k this deck
67
Unionization slowed down after the Great Depression.
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68
Which of the following is true of corporate executive salaries?

A)Globalization has had some negative effects on earnings for corporate executives.
B)Corporate executive salaries have skyrocketed.
C)Median CEO pay increased slightly during the recession.
D)Median CEO pay has declined somewhat in the postcrisis period.
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69
The most well-known and visible companies today have the largest number of workers.
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70
Which of the following is the true of the new economic order?

A)The U.S.economic order today has been powerfully affected by the emergence of a stratified economic system.
B)The United States is an isolated economic unit.
C)In many respects, the world is a single economic unit.
D)Economic integration is becoming more shallow.
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k this deck
71
During the Industrial Revolution, factories were replaced by cottage industries.
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72
Which of the following is characteristic of deep economic integration?

A)It is typical of the globalization of several decades ago.
B)Countries are less interdependent.
C)All of the manufacturing of a product is done in one country.
D)Management and sales might be located in different countries.
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73
Being a nurse or a flight attendant requires a high degree of emotional labor.
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74
In 2017, the average CEO pay was ______ times the annual average pay of their workers.

A)10
B)27
C)127
D)271
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Unlock for access to all 102 flashcards in this deck.
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75
What is the global wage?

A)the global average wage
B)the global minimum wage established by the United Nations
C)the wage equivalent to the lowest worldwide cost of obtaining labor for a particular task
D)the wage equivalent to the average worldwide cost of obtaining labor for a particular task
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Unlock for access to all 102 flashcards in this deck.
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76
Which of the following refers to when companies seek to maximize profits by chasing opportunities to locate wherever conditions are most likely to result in the lowest costs?

A)race to the bottom
B)globalization
C)deep integration
D)short integration
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77
Laissez-faire capitalism literally means hands-off capitalism.
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78
Nike, Apple, and Ford are all brands with globalized labor force.They reflect which of the following?

A)deep integration
B)shallow integration
C)an isolated economic society
D)cottage industries
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79
Which of the following is true of the early 21st century?

A)Consumption was the direct cause of bankruptcies.
B)Financial reforms in 2015 made the declaration of bankruptcy much easier and more common.
C)The financial crisis in 2017 saw another rise of bankruptcies.
D)Car debt increasingly became a burden.
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80
Shallow integration is more characteristic of which of the following time periods?

A)the agricultural revolution
B)the industrial revolution
C)the globalization of several decades ago
D)the globalization of today
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Unlock Deck
Unlock for access to all 102 flashcards in this deck.